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A payment system consists of a set of instruments, rules and procedures that enable a safe and efficient transfer of funds between various economic agents. It includes participants, payment service providers, systems support infrastructures, and entities responsible for transaction processing and settlement agreements. ​

The increasing digitalization of financial services, driven by new information and communications technology, has contributed to the emergence of increasingly complex and interconnected payment systems, representing risks that are in themselves also complex.
In its analysis and monitoring of systems, Banco de Cabo Verde (BCV) chose an approach based on the various types of risk that are inherent to them, with a view to mitigating them, while ensuring that economic agents continuously have secure, stable and efficient payment systems.

With this stance, Banco de Cabo Verde intends to foster an indelible confidence in these systems and in the central bank money, while also safeguarding the monetary policy transmission channel and the maintenance of price stability.

In line with international rules and standards, the payment system’s oversight function reinforces its importance and relevance at Banco de Cabo Verde, which, in June 2017, published the Oversight Policy, a document detailing the objectives, scope of action, standards and instruments used to enable it to carry out oversight activities and ensure that the operators in the Cabo Verdean Payment System (Portuguese acronym: SPCV) comply with international principles in this matter.

In recent years, given the prominence of payments through electronic devices, the challenges and opportunities they provide to participants in the SPCV, Banco de Cabo Verde modernized legislation on the SPCV. As a result of these developments, the payment system in Cabo Verde has, since November 28, 2018, been provided with a modern legal framework, which makes it easy to access and carry out activities involving payment service provision and issuance of electronic money to new entities and ensures its acceptance among all participants, as well as its social universality.

In addition to strengthening business competitiveness, the liberalization of payments to non-banking institutions also envisages greater financial inclusion of citizens, as they now have a diversified supply of payment solutions, at a more accessible cost, according to their everyday needs.